Taxation

NCLT defers Essar Steel hearing to December 10

The National Company Law Tribunal’s Ahmadabad chapter has deferred the Essar Steel hearings till the second week of December citing inadequate bench strength. The court was supposed to hear as many as 21 applications related Essar Steel resolution on Wednesday. The court is expected to be back in full strength early December. It will hear Essar Steel cases on December 10. While the CoC has filed an application seeking approval for ArcelorMittal’s resolution plan, others like GTI Textile have challenged it. A group of 30 vendors, who had supplied goods and services to Essar, came together to petition the NCLT’s Ahmedabad chapter asking for their dues worth more than Rs 600 crore.

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